Tower

Tower's FY25 house-policy expansion—home insurance policies up 11% within a customer base that grew 4% to 318,000—and the smaller measured flood-risk share in new policies, where address-level risk-based pricing reduced risk exposure and 91% of new house policies carried a low or very low flood-risk rating, up from 87% in FY24, support a growth case unless affordability pressure reverses that expansion. Tower Limited reported underlying NPAT of $107.2m for the financial year ended 30 September 2025, with reported profit of $83.7m.

Premiums for New Zealand home insurance grew at triple the general CPI rate since 2011.

Access to home insurance is becoming more difficult in areas facing both high earthquake and flood risk, a market risk to Tower's household-insurance growth; Tower's expanded address-level pricing is a mitigation, not evidence that the availability risk has passed.

Tower's address-level risk-based pricing reduces its risk exposure: 91% of new house policies are rated low or very low flood risk, up from 87% in FY24, and the pricing includes sea surge and landslide risks.

Tower's home cover gives household insurance buyers online policy servicing alongside customer-selected options, letting them pick one of three cover levels to fit their needs and budget and manage, file claims on, and update their insurance through My Tower at any time.

For claims involving both house and contents policies after a single incident at the same address, Tower applies one excess, using the highest applicable excess.